Principal Financial Group Inc. Has $2.93 Million Stake in Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI)

Principal Financial Group Inc. trimmed its stake in shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI - Free Report) by 47.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 352,600 shares of the company's stock after selling 313,587 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Maravai LifeSciences worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Maravai LifeSciences during the second quarter worth about $32,000. Venturi Wealth Management LLC bought a new stake in Maravai LifeSciences during the 3rd quarter worth approximately $47,000. Custom Index Systems LLC acquired a new stake in Maravai LifeSciences during the 3rd quarter valued at $97,000. Y Intercept Hong Kong Ltd bought a new position in Maravai LifeSciences in the 3rd quarter valued at $105,000. Finally, Headlands Technologies LLC boosted its stake in Maravai LifeSciences by 205.9% in the second quarter. Headlands Technologies LLC now owns 14,935 shares of the company's stock worth $107,000 after purchasing an additional 10,053 shares in the last quarter. 50.25% of the stock is currently owned by institutional investors.

Maravai LifeSciences Stock Up 3.5 %

NASDAQ MRVI traded up $0.19 during trading on Friday, hitting $5.68. The stock had a trading volume of 1,213,044 shares, compared to its average volume of 1,085,322. Maravai LifeSciences Holdings, Inc. has a 12 month low of $4.28 and a 12 month high of $11.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.94 and a current ratio of 10.74. The company's 50-day moving average price is $5.80 and its two-hundred day moving average price is $7.45. The company has a market capitalization of $1.43 billion, a PE ratio of -3.46 and a beta of -0.08.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRVI. The Goldman Sachs Group cut shares of Maravai LifeSciences from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $7.00 to $4.25 in a research report on Thursday, December 5th. Robert W. Baird dropped their price objective on shares of Maravai LifeSciences from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Guggenheim started coverage on Maravai LifeSciences in a research note on Thursday, December 19th. They issued a "neutral" rating for the company. Royal Bank of Canada dropped their target price on Maravai LifeSciences from $17.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, William Blair reiterated a "market perform" rating on shares of Maravai LifeSciences in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.28.

Insider Transactions at Maravai LifeSciences

In related news, insider Carl Hull bought 175,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $5.64 per share, with a total value of $987,000.00. Following the completion of the transaction, the insider now owns 175,000 shares in the company, valued at $987,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Maravai LifeSciences Company Profile

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases worldwide. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.